Talkspace (NASDAQ:TALK) Given New $3.00 Price Target at Barclays

Talkspace (NASDAQ:TALK) had its price objective lifted by Barclays from $2.00 to $3.00 in a research report sent to investors on Tuesday morning, Benzinga reports. Barclays currently has an equal weight rating on the stock.

Separately, Needham & Company LLC reissued a “hold” rating on shares of Talkspace in a research report on Tuesday, August 6th.

Talkspace Stock Performance

Shares of NASDAQ:TALK opened at $3.18 on Tuesday. The stock has a market capitalization of $534.91 million, a price-to-earnings ratio of -63.60 and a beta of 1.21. The stock’s 50-day simple moving average is $2.18 and its two-hundred day simple moving average is $2.35. Talkspace has a 52-week low of $1.41 and a 52-week high of $3.92.

Insider Activity

In related news, CFO Ian Jiro Harris acquired 23,100 shares of the stock in a transaction dated Thursday, September 19th. The shares were purchased at an average cost of $2.11 per share, with a total value of $48,741.00. Following the transaction, the chief financial officer now directly owns 397,657 shares in the company, valued at approximately $839,056.27. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 21.70% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in TALK. Principal Financial Group Inc. bought a new stake in Talkspace during the 2nd quarter valued at approximately $38,000. Fifth Lane Capital LP bought a new stake in Talkspace during the 1st quarter valued at approximately $55,000. Creative Planning raised its stake in Talkspace by 30.6% during the 3rd quarter. Creative Planning now owns 26,386 shares of the company’s stock valued at $55,000 after purchasing an additional 6,179 shares during the period. Virtu Financial LLC bought a new stake in Talkspace during the 1st quarter valued at approximately $74,000. Finally, Clear Harbor Asset Management LLC bought a new stake in Talkspace during the 3rd quarter valued at approximately $84,000. 57.37% of the stock is owned by hedge funds and other institutional investors.

Talkspace Company Profile

Talkspace, Inc operates as a virtual behavioral healthcare company in the United States. The company offers psychotherapy and psychiatry services through its platform to individuals, enterprises, and health plans and employee assistance programs. It provides text, audio, and video-based psychotherapy from licensed therapists.